Regulatory Alerts2012-10-03 | FPR/DIR/CIR/GEN/01/031Inclusion of INEC Voter's Registration Card as a Means of Customer's Identification
The Central Bank of Nigeria (CBN) has issued a circular to all banks and financial institutions in the country allowing the use of the Independent National Electoral Commission's (INEC) Voter's Registration Card as an additional means of identification for natural persons conducting banking business. This move is aimed at promoting financial inclusion by expanding the acceptable identification options beyond the previously specified AML/CFT Regulation 2009 requirements. The policy update was announced by AMUGO, K.N., on behalf of the Director of Financial Policy and Regulation Department.
09-46237404 Tel: .......... E-mail: fprd@cbn.gov.ng FPR/DIR/CIR/GEN/01/031 21st September, 2012 CIRCULAR TO ALL BANKS AND OTHER FINANCIAL INSTITUTIONS - "INCLUSION OF INDEPENDENT NATIONAL ELECTORAL COMMISSION (INEC) VOTER'S REGISTRATION CARD AS A MEANS OF CUSTOMER IDENTIFICATION" Further to our circular on AML/CFT Regulation 2009 on acceptable means of identification for the purpose of account opening and transaction of banking business in Nigeria, it has become necessary as a result of the need to enhance financial inclusion, to extend the acceptable identification options.
Accordingly, all banks and other financial institutions are hereby advised to accept INEC Voter's Registration Card duly issued by INEC, bearing the holder's particulars such as name, photograph, date of birth and address as a valid additional means of identification of natural persons for the purpose of conducting banking business in Nigeria.
AMUGO, K. N. For: DIRECTOR, FINANCIAL POLICY AND REGULATION DEPARTMENT CENTRAL BANK OF NIGERIA Financial Policy & Regulation Department Central Business District P.M.B. 0187 Garki, Abuja.